Ridlr a Mumbai based public transport app raised $6 million in its Series B round funding from Times Internet and its existing investors Qualcomm Ventures and Matrix Partners India. Innoven Capital a Venture debt provider also participated in this round.
The raised funds will be used to grow its user base, scale up public transport, hire key roles and improve ticketing system.
It was founded bv Ravi Khemani and Brijraj Vaghani in 2009. Developed by Birds Eye Systems, it provides real time traffic information and public transport across 24 Indian cities. It also provides online ticketing for Mumbai’s local train and buses service. It has tied up with metro, bus departments and local trains for their complete listing, news, time tables, delays, etc.
It claims to have around 100,00 daily users with a retention rate of 50%. With one million Traffline it has more than 5 lakh downloads. Traffline app allows users to share alternative routes and traffic information with their friends and family.
With Birds Eye Systems patent algorithms, Ridlr app provides the users with real time information on diversions, road blocks and cancellation to allow them to choose their mode of transport accordingly.
In December 2013 it had raised an undisclosed amount of funding from Matrix Partners followed by in 2014 by Qualcomm Ventures.
Brijraj Vaghani, CEO of Ridlr said,
“This round is great validation of our growth, team strength and bility to execute. It gives us the confidence to continue to disrupt the local transport space.”